I co-signed for and auto loan, can i get one myself now? I really need someones help.

[Anonymous]

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@michaels88369 wrote:
oh i see. ok i will try that asap. overall with my scores after i pay the cc balances below an overall 9% util could/would i be approved for the car loan? My fiancee has paid all of the payments for the 19 months we have had the car, do you think if i showed the bank that she makes 32000 a year and has made all paments they wont hold the car against me, and let me get a $250 auto payment myself?I

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I believe your chances are greater,yes. Its always better to talk to a loan officer in person then to apply online or by any other method, this way you can tell them the auto loan on your credit report and the predicament in your in, and that way they don't factor this into your debt to income ratio. Before applying though I do highly recommend paying off as much of the CC debt as you can, preferably 9% or under.

[michaels88369]

I will get it below 9% then i will try the loan officer. I will let everyone know the status when i do go. thanks for everyones help.

[StarraeAday1]

Just a thought, but if you can find a credit union that will finance you on a new loan, you may want to talk to them about refinancing the crappy loan on the fiancee's car. You're so upside down because of the long term of the loan and the high interest rate. Trust me, I just refinanced from 22.58% to 6.75% at a local credit union, and cut 6 months off the term of the loan. They also offered to refinance my husband's car, which is in my mom's name only (due to our bankruptcy), for us at the same time. Fortunately my mom got us 2.9% on that loan, so it doesn't make any sense to refinance other than to get it in our names. But that loan was offered to us at 5.9%.

Long story short, credit unions are the way to go, and seriously consider refinancing that loan. You'll likely lower your payment (or keep it the same but shorten the term) and pay tons less in interest over the remainder of the loan, which will only help your overall financial situation.

My two cents, take it or leave it.

[michaels88369]

Thanks, she has a collection on her CR from verizon wireless for $450. It has dropped her scores alot. i dont think they will refinance the car into just her name. I know they wont refinance her car and still give me one at the same time. but i will go ask them. Thanks for your help Starla

[michaels88369]

Dont most CU want us to pay the 6K or so upside down before they will refinance? Any insight on this?